Tire Cord Fabric Market Outlook:
Tire Cord Fabric Market size was valued at USD 5.6 billion in 2024 and is projected to surpass USD 8.5 billion by the end of 2034, rising at a CAGR of 4.5% during the forecast period, from, 2025-2034. In 2025, the industry size of tire cord fabric is estimated at USD 5.8 billion.
The main driver of growth in the market has been the post-pandemic increase in automotive production and demand for exports globally. The USDA reports that in 2021, the rope, cordage, twine, tire cord, and tire fabric mills generated approximately $374 million of revenue with a 14.9% increase from the previous year, reflecting a 5-year average growth rate of 4.4%. U.S. imports and exports of specialty/industrial fabrics that also included tire cord alike were evolving, and the overall market for specialty and industrial fabrics was recovering after trade disruptions that appeared to stabilize in 2021.
Material sourcing for tire cord is highly dependent on polyester and steel wire. U.S. textile producers have allocated between 5-7% of sales to upgrade or modernize production capabilities, especially for cord dipping and coating lines. Maine state imports reported $22.7 million in rope, cordage, tire cord, and tire fabric for 2021, while assembly houses operate from North Carolina. The U.S. BLS reports prices for tire cord and tire fabric producers under the commodity code of 350301. For RDD, investments have been focused on line efficiency, dipping, and fabric strength. In summary, the inputs and outputs continue to impact import and export balance sheets, and reported expansions of capacity show concerted scaling efforts in response to burgeoning automotive sector demand.
Tire Cord Fabric Market - Growth Drivers and Challenges
Growth Drivers
- Surge in radial tire demand: The growth of radial tires is a huge driver of tire cord fabric consumption. The radialization rate exceeded 91% in both Europe and North America for passenger cars in 2023. It is reported that China's radial truck tire penetration reached 86%, per CRIA. Radial tires need better cord fabric to handle loads and give better tread stability. The move from bias-ply tires to radial tires, especially in heavy trucks and buses, is creating new market potential and demand for higher-grade polyester and steel cord-reinforced cord fabrics on an international basis.
- Growth in replacement tire market: The replacement tire market is growing as the vehicle parc ages. Smithers estimates global demand for replacement tires will grow at a compound annual growth rate (CAGR) of 3.5% from 2023-2028. Meanwhile, the average age of vehicles in the U.S. reached 12.6 years in 2023, creating additional tire replacement demand and fabric consumption. Also, strong aftermarket sales allow manufacturers to continually consume promising tire cord fabrics for their manufacturing of replacement radial and bias tires.
- Advancement in fabric reinforcement technologies: Growing technologies in tire cord fabrics, including high-tenacity polyester, aramid, and hybrid cords, will only strengthen drivers for market growth. For example, Tejin launched new PEN-based tire cords having 11-16% higher modulus and thermal resistance, and will increase tire life in 2023. In addition, companies are applying research and development resources for the lightweight, low-rolling-resistance tire cord fabrics to achieve improved fuel performance and carbon emissions. This links to international sustainability objectives and requirements for EV tires.
1. Emerging Trade Dynamics & Future Market Prospects
Tire Cord Fabric Import-Export Data (2019-2024)
|
Year |
Exporting Country |
Importing Country |
Shipment Value (USD billion) |
|
2019 |
Japan |
China |
39.9 |
|
2020 |
Japan |
China |
36.6 |
|
2021 |
Japan |
China |
41.8 |
|
2022 |
Japan |
China |
43.3 |
|
2023 |
Japan |
China |
45.1 (est) |
|
2024 |
Japan |
China |
47.2 (proj) |
(Source: meti.go.jp)
Key Trade Routes Statistics
|
Trade Route |
% Share of Global Trade |
Value (USD trillion) |
Year |
|
Asia-Pacific |
57% |
2.9 |
2021 |
|
Europe-North America |
24% |
1.2 |
2021 |
(Source: unctad.org)
2. Tire Cord Fabric Market Overview
Detailed Price History & Unit Sales Volumes (2019-2024)
|
Year |
Global Unit Sales (mn tons) |
North America Price (USD/ton) |
Europe Price (USD/ton) |
Asia Price (USD/ton) |
|
2019 |
2.66 |
3,121 |
3,231 |
2,981 |
|
2020 |
2.59 |
3,051 |
3,111 |
2,851 |
|
2021 |
2.63 |
3,381 |
3,461 |
3,281 |
|
2022 |
2.69 |
3,921 |
4,491 |
3,621 |
|
2023 |
2.78 |
4,231 |
4,321 |
3,551 |
|
2024 |
2.81 |
4,301 |
4,381 |
3,611 |
(Source: USITC.gov)
Key Factors Impacting Price Fluctuations
|
Factor |
Impact (2019-2024) |
Instance |
|
Raw Material Costs |
Accounted for ~41% price variation; nylon prices rose by 26% in 2021 due to the upstream caprolactam shortage |
Asia PET feedstock costs surged by 19% in 2021 |
|
Geopolitical Events |
Caused abrupt spikes; Europe saw a +31% price rise in 2022 post Russia-Ukraine conflict |
Natural gas supply restrictions raised energy-intensive production costs |
|
Environmental Regulations |
Increased compliance costs by ~5-8% annually |
EU carbon emission caps raised polyester fabric production costs |
(Source: Eurostat.eu)
Challenges
- Competition from low-cost producers: Fierce price competition from lower-cost Asian manufacturers inhibits pricing power. In 2023, China and India produced over 46% of global tire cord fabric production volumes (ITMF). This creates pricing pressures for North American and European producers, which suppress profitability and create hurdles to premium-grade tire cord fabric growth in export markets.
- Decline in tire replacement demand: During periods of economic slowdown, tire replacement demand declines, leading to a decline in tire cord fabric sales. The U.S. Tire Manufacturers Association recently reported a 7.6% decline in replacement tire shipments in 2023 compared to 2022. Overall weak aftermarket due to high inflation and lower vehicle usage in Europe and North America ultimately restricts market growth possibilities.
Tire Cord Fabric Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
4.5% |
|
Base Year Market Size (2024) |
USD 5.6 billion |
|
Forecast Year Market Size (2034) |
USD 8.5 billion |
|
Regional Scope |
|
Tire Cord Fabric Market Segmentation:
Application Segment Analysis
The radial tires segment is predicted to gain the largest market share of 54.3% during the projected period by 2034, due to their grip, rolling resistance, and tire tread durability due to the radial construction. All of these associations further fuel the trend with a focus on fuel economy and prescribed performance standards for tire and/or safety performance by key regulatory bodies in places such as Europe and North America. Nylon cord is used with an elastomeric layer, and keeps focus on this application because it accounts for over 91% of global automotive production according to the data of the National Highway Traffic Safety Administration (NHTSA).
End use Segment Analysis
The passenger cars segment is anticipated to constitute the most significant growth by 2034, with 48.3% market share, mainly due to the total volume of global production, primarily from the Asia Pacific. The International Organization of Motor Vehicle Manufacturers (OICA) states 71 million global passenger car production in 2023, supported domestically in China and India. continued growth with the vehicle parc and increasing replacement tires will also sustain consumption in this segment.
Material Type Segment Analysis
The nylon tire cord fabric segment is anticipated to constitute the most significant growth by 2034, with 42.3% market share, mainly due to its tensile strength, resistance to fatigue, and excellent adhesion to rubber compounds. These attributes make nylon cord tire constructions ideal for heavy tires, high-speed tires, or both. The National Institute of Standards and Technology (NIST) cites that the molecular structure of nylon allows for high dimensional stability and low abrasion resistance, which are essential characteristics for well-performing tires. The U.S. Department of Energy also mentions that nylon helps reduce fuel expenditure by increasing fuel efficiency with lower rolling resistance.
Our in-depth analysis of the global tire cord fabric market includes the following segments:
|
Segment |
Subsegment |
|
Material Type |
|
|
Application |
|
|
End use |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Tire Cord Fabric Market - Regional Analysis
Asia Pacific Market Insights
By 2034, the Asia Pacific market is expected to hold 40.3% of the market share due to strong growth from automotive and EV demand throughout Asia Pacific, in particular, which has seen car sales surge in the region due to growth in economic activity from states, post-COVID. The tire cord fabrics segment generated revenues totaling USD 2,990.2 million in 2024, with a projected CAGR of 6.7% through 2030. Globally, the wider market has been projected to grow, from USD 6.21 billion in 2024 to approximately USD 12.26 billion by 2034, at a growth rate of approximately 7.3%. Much of the growth in this area can be attributed to innovations, advancements in the technology sector, and regional infrastructure growth, especially in China and India, which are pushing growth in new materials such as rayon, because of its status as one of the fastest-growing segments of apparel, automotive, fibrous and textured fiber segment and future expectations for tire development over the next 10 years.
China is the largest automotive market in the Asia Pacific, and is likely to drive the directional growth of tire cord fabric, accounting for a regional CAGR of ~6-8% and expected to consume high-performance cords, including nylon and rayon. According to the projections of USD 6.20 billion to USD 12.26 billion by 2034, these are positive growth signals domestically. Given China's established leadership position in producing cars and EVs, it is almost a given that there will be continued use and differentiation of advanced tire fibers through 2034.
APAC Tire Cord Fabric Market: Country-Wise Industrial & Automotive Insights
|
Country |
Automotive Industry Expansion |
Manufacturing Base |
Infrastructure Development |
Vehicle Sales Growth |
Technological Innovation |
|
China |
Largest global vehicle producer (27M units, 2023) |
50+ tire cord fabric plants |
$1.2T infrastructure spending (2021-25) |
5.4% YoY sales increase (2023) |
120+ patents in high-strength materials (2023) |
|
India |
4th largest auto market (5M+ units, 2023) |
12 major tire cord facilities |
26,000 km highway expansion (2020-24) |
8.1% YoY sales growth (2023) |
Adoption of nylon 66 for radial tires |
|
Japan |
Leader in high-performance tires |
8 advanced R&D centers |
$300B smart city projects (2023-30) |
4.2% EV sales surge (2023) |
Aramid fiber integration in premium tires |
|
South Korea |
5th largest auto exporter |
6 automated tire cord plants |
$60B transport infra upgrade (2022-26) |
3.8% domestic sales rise (2023) |
AI-driven quality control systems |
|
Thailand |
ASEAN automotive hub (1.9M vehicles, 2023) |
10+ export-focused factories |
$10B Eastern Economic Corridor |
11.2% commercial vehicle growth (2023) |
Sustainable rubber compounding tech |
|
Vietnam |
Fastest-growing auto assembly base |
4 new tire cord plants (2022-23) |
$65B North-South expressway |
24% YoY motorcycle sales jump (2023) |
Localized carbon fiber production |
North America Market Insights
North America market is expected to hold 24.7% of the market share, and it is expected to grow from USD 411 million in 2025 to USD 566 million in 2034 at a CAGR of 3.8% for 2025–2034. This growth can be attributed to strong automotive manufacturing and replacement tire demand, due to the rising freight transportation activity. Synthetic tire cord fabric demand will continue to lead due to its higher tensile strength and resistance to heat. The collaborations between OEMs and multi-fiber tire fabrics for electric vehicles will help spur market demand throughout the region.
The U.S. tire cord fabric market is also estimated to rise from USD 346 million in 2025 to USD 471 million in 2034, with a CAGR of 3.7%. This growth in the U.S. tire cord fabric market is attributed to the extensive auto manufacturing industry and replacement tire demand. Many tire manufacturers are investing assets to manufacture high-performance rayon and polyester tire cord to keep pace with sustainability requirements. An expected spike in electric vehicle sales between 2025-2030 (projected to be over +31% of new car sales) will drive the conversion and need for high-performance & heat-resistant tire cord fabrics in the U.S.
Europe Market Insights
Europe market is expected to hold 19.5% of the market share, stimulated by the EU regulations on tire labeling and tire performance accuracy, prompting more high-strength, lighter fabrics in tractor and car tires (passenger & commercial vehicle tires). The forecast estimates consumption will rise to 419 kilotons by 2034 on the back of the EV transition and the need for low-weight durable tires to drive better fuel economy and lower CO₂ emissions profiles. Some key suppliers are developing and improving aramid and polyester cord advancements.
Europe Tire Cord Fabric Market: Country-Wise Insights
|
Country |
Manufacturing Capabilities |
Sustainability Regulations |
Automotive Industry Dynamics |
|
Germany |
8 high-tech production plants |
EU Green Deal compliance (55% CO₂ reduction by 2030) |
3.1M vehicles produced (2023) |
|
France |
5 automated cord fabric units |
AGEC Law mandates 30% recycled materials in tires |
1.7M passenger cars sold (2023) |
|
Italy |
4 specialized steel cord plants |
National Recovery Plan funds for green tires |
700K+ commercial vehicles made (2023) |
|
Spain |
3 major nylon/polyester facilities |
Spanish Circular Economy Strategy (2025 targets) |
2.4M vehicles exported (2023) |
|
Poland |
Fastest-growing Eastern EU hub |
REACH SVHC restrictions on synthetic rubber |
600K+ EV batteries produced (2023) |
|
Netherlands |
Key logistics/distribution center |
Dutch Climate Agreement (carbon-neutral logistics) |
25% of EU tire testing R&D |
Key Tire Cord Fabric Market Players:
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The global tire cord fabric market is a highly competitive field that is characterized by a consolidated industry structure. Manufacturers such as Hyosung Advanced Materials and Kordsa have established strong market positions and leads based on their existing technological capabilities and coordinated operations globally. Strategic measures taken by manufacturers are capacity expansions, joint ventures, or acquisitions; all focused on maintaining regional presence. For example, Kordsa is focusing R&D on sustainable products focused on nylon and aramid cords, while SRF Limited is actively expanding the polyester cord business to meet demand from the Asia-Pacific. Market players are involved with vertical integrations and developing partnerships with tire OEMs for greater security over supply, improved cost-to-market efficiencies, and to address evolving regulatory confines of fuel efficiency and durable tires.
Some of the key players operating in the market are listed below:
|
Company Name |
Country of Origin |
Approx. Market Share (%) |
|
Hyosung Advanced Materials Corporation |
South Korea |
16 |
|
Kordsa Teknik Tekstil A.S. |
Turkey |
11 |
|
Teijin Frontier Co., Ltd. |
South Korea |
9 |
|
Kolon Industries, Inc. |
South Korea |
8 |
|
SRF Limited |
India |
7 |
|
Century Enka Limited |
India |
xx |
|
Indorama Ventures (Performance Fibers) |
Thailand/USA |
xx |
|
Firestone Fibers & Textiles Company |
USA |
xx |
|
Milliken & Company |
USA |
xx |
|
Zhejiang Unifull Industrial Fibre Co. |
China |
xx |
|
Shenma Industrial Co., Ltd. |
China |
xx |
|
Formosa Taffeta Co., Ltd. |
Taiwan |
xx |
|
Far Eastern New Century Corporation |
Taiwan |
xx |
|
SK Chemicals Co., Ltd. |
South Korea |
xx |
|
Oriental Industries (Malaysia) Sdn Bhd |
Malaysia |
xx |
Here are a few areas of focus covered in the competitive landscape of the market:
Recent Developments
- In May 2024, Toray Industries launched its next-generation aramid-based tire cord fabric for ultra-lightweight high-performance tires for electric vehicles and premium sports cars. The aramid tire cord fabric developed provides 21% higher tensile strength and reduced weight by 11% overall tire weight, which leads to better vehicle energy efficiency. Toray signed a supply agreement with Bridgestone for a new premium tire line in both North America and Europe. Toray projects a 13% increase in sales revenue for its advanced materials business in fiscal 2024–25.
- In March 2024, Kolon Industries introduced EcoTireCord, a recycled PET tire cord fabric aimed at global tire manufacturers to satisfy new EU sustainability requirements. EcoTireCord has the manufacturing benefit of all PET yarn formats and is made from a sustainable source: a common polymer of 100% post-consumer recycled product. By using EcoTireCord, manufacturers can reduce carbon emissions by 26% per ton of PET fabric compared to traditional nylon-based cords. Following this launch, Kolon had a supply agreement with Hankook and Kumho, with Kolon estimating that it will see a 16% improvement in sales revenue from its tire cord segment in calendar 2024. Kolon is continuing its leadership position in supply chain sustainability in tire reinforcement materials.
- Report ID: 4259
- Published Date: Jul 29, 2025
- Report Format: PDF, PPT
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